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RCom, RIL shares plunge over 4 per cent

Shares of RComm and RIL plunge over 4% in early trade amidst exclusive discussion between ADA Group firm and MTN coming to an end.

business Updated: Jul 08, 2008 12:25 IST

Shares of Reliance Communications and Mukesh Ambani-led Reliance Industries on Tuesday plunged over four per cent in the early morning trade amid exclusive discussion between the ADA Group firm and South African telecom entity MTN coming to an end on Tuesday.

Shares of Anil Ambani-led Reliance Communications on Tuesday dropped 5.89 per cent from Monday's close of Rs 419.80 to touch an intra-day low of Rs 395.05. The scrip opened at Rs 410 and touched a high of Rs 414.70. It was later trading at Rs 412.65, down Rs 7.15 from previous close .

Meanwhile, shares of Reliance Industries on Tuesday dropped 4.34 per cent from Monday's close of Rs 2,028.15 to touch a low of Rs 1,940.10.

The scrip opened at Rs 2,000, which was also its day's high. It was later trading at Rs 1,953.50, down Rs 74.65 from last close.

Earlier on May 26, RCOM had announced the start of 45-day exclusive negotiations for a possible deal with MTN.

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